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monthly (adv.)

"once a month, in every month," 1530s, from month + -ly (2).

monthly (adj.)

1570s, "pertaining to or relating to a month," from month + -ly (1). Old English had monaþlic, but the modern words seem to be separate formations. From 1580s as "continued for a month;" 1640s as "done or happening once every month." As a noun, "a magazine or periodical published once a month," by 1833.

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Definitions of monthly from WordNet
1
monthly (n.)
a periodical that is published every month (or 12 issues per year);
2
monthly (adv.)
occurring once a month;
they meet monthly
3
monthly (adj.)
of or occurring or payable every month;
monthly payments
the monthly newsletter
From wordnet.princeton.edu